[Nfbf-l] No cost of living increase for social security recipients

[Sherri]

Just passing this along unfortunately.

No Cost-of-Living Adjustment for 2016
Posted on
October 15, 2015
by
Jim Borland, Assistant Deputy Commissioner, Communications

pink pig
Social Security's annual cost-of-living adjustment (COLA) is an increase in 
the benefit amount people receive each month. By law, the monthly Social 
Security
and SSI federal benefit rate increases when there is a rise in the cost of 
living. The government measures changes in the cost of living through the 
Department
of Labor's Consumer Price Index (CPI-W).

The CPI has not risen since the last cost-of-living adjustment in 2015. As a 
result, your SSI benefit rate and, for most people, your Social Security 
benefit
amount will stay the same in 2016.

This news isn't necessarily bad. When inflation stays at the same rate, your 
cost of living also stays the same. Prices for goods and services, on 
average,
haven't increased enough to affect the COLA.

Other changes that would normally take effect based on changes in the 
national average wage index also won't begin in January 2016. Since there is 
no COLA,
the statute also prohibits a change in the maximum amount of earnings 
subject to the Social Security tax, as well as the retirement earnings test 
exempt
amounts. These amounts will remain unchanged in 2016. The
new fact sheet
 provides more information on 2016 Social Security and SSI changes.

For additional information about the 2016 COLA, go to
www.socialsecurity.gov/cola.

For additional information about changes in the national average wage index, 
go to
www.socialsecurity.gov/OACT/COLA/AWI.html.




Sherri Brun
NFBF Newsline Chair
flmom2006 at gmail.com
President,
NFB Central Florida Chapter

Character is the side of yourself you choose to show the world.
Integrity is what you do, what you say and how you act when you think no one 
is paying attention.